Egnie has agreed the sale of of its 75% shareholding in three UK based power plants to Energy Capital Partners (ECP).
This sale covers the gas-fired power plants of Saltend and Deeside as well as the Indian Queens oil-fired peaking plant, with a total gross capacity of 1,841 MW1.
Saltend is in Hull, East Riding of Yorkshire; Deeside is a 515 MW gas fired power station in Flintshire, North Wales and Indian Queens is a 129 MW fuel oil power station near Newquay, Cornwall.
The units were 75% owned by ENGIE and 25% by Japan’s Mitsui & Co.
Both partners agreed to sell their stake in the three power plants to Energy Capital Partners, a private equity firm focused on investing in energy infrastructure.
The transaction is part of ENGIE’s 2016-2018 transformation plan and is in line with the group’s ambition to reduce its exposure to merchant activities.
The sale represents a total enterprise value of £205 million.
As a result of this transaction, effective immediately, 57 employees will join the purchasing company.
